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CryptoIntelligence
2024-04-06 22:47:38

Terraform Labs and Co-Founder Do Kwon Found Liable for Massive Crypto Fraud by U.S. Jury

Terraform Labs and Co-Founder Do Kwon Found Liable for Massive Crypto Fraud by U.S. Jury

A recent verdict by a jury has found Terraform Labs and its co-founder, Do Kwon, culpable in a significant case of investor fraud, as announced by the U.S. Securities and Exchange Commission (SEC) on April 5. The decision, stemming from deliberations in the U.S. District Court for the Southern District of New York, concluded the civil enforcement trial which began on March 25. Notably, Do Kwon was absent from the proceedings, currently in Montenegro amidst ongoing deliberations over his potential extradition to either the U.S. or South Korea. SEC Enforcement Director Gurbir Grewal expressed satisfaction with the outcome, stating, “We

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